A sprawling waterfront mansion recently sold for $75 million in Boca Raton, becoming the most expensive home sold in the United States in May.
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The purchase reportedly broke the record for most expensive home sale in Boca Raton, which experts say reflects growing interest in the city alongside other ultra-luxury enclaves in the region.
South Florida continues to dominate the ultra-luxury market, with four other regional properties among the Top 10 most expensive home sales in May, according to Redfin News.
The $75 million locale sits within the lavish Royal Palm Yacht & Country Club, on East Maya Palm Drive. It boasts eight bedrooms, 10 bathrooms, a “wellness wing” and a “high-tech golf simulator” among its 18,000 square feet.
The residence was built in 2026 as a “spec mansion” by the SRD Building Corp., a luxury home construction company based in Boca. The Real Deal reported that the sale shattered Boca’s earlier record, which was SRD’s initial purchase of the same property back in 2024 for $36 million.
An entity named the “2500 East Maya Palm Trust” purchased the mansion through a trustee, property records show.
Demand in Boca
Real estate experts say that the eye-catching sale represents broader growth in Boca Raton’s ultra-luxury housing market.
“What the $75 million sale tells us, and what the supporting market data confirms, is that Boca Raton has entered a new competitive tier,” wrote Jason Matouk, a Boca ultra-luxury real estate agent, in a blog post. Boca is now “competing against Palm Beach, Miami Beach, and the most trophy-driven residential markets in the world,” he added.
Scott Gerow, a luxury real estate agent, said interest in Boca grew amid a paucity in supply elsewhere during the COVID-19 pandemic. “We saw a lot of people, because of that lack of inventory, coming to Boca Raton, looking for those higher price homes.”
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Before the pandemic, Gerow said, the highest-priced home sale in Boca was $17.2 million.
He said that ultra-wealthy buyers are drawn to the city because of low density, waterfront access and the city’s resort offerings. A selection of restaurants, as well as access to golf and tennis courts, attract clientele moving from the Northeast and California, Gerow said.
Gerow added that soaring prices are predictable because “there’s nowhere else to build” within the most coveted parts of Boca. Unable to purchase empty, cheaper lots, developers have to buy and replace existing homes. In turn, Gerow said, “the price of land is driving the ultimate price of the homes.”
South Florida’s luxury market is ‘on fire’
The other top-selling homes this May are set in the known neighborhoods of the ultra-wealthy. They include a Mediterranean-style marvel in Manalapan, sold for $62.5 million, a $42.5 million Palm Beach estate, and two Miami Beach properties each sold for more than $30 million.
“They’re all on fire,” Gerow said of these cities’ markets.
The Boca Raton and Manalapan residences are two of the highest-priced homes sold in all of 2026, according to Redfin. They join five other South Florida properties already in the Top 10, including Meta founder Mark Zuckerberg’s $170 million mansion and other high-priced homes.
Matouk wrote that the ultra-wealthy flock to Florida because of limited taxes and the investment potential of waterfront properties.
“Florida’s zero state income tax, combined with comparative value against global trophy markets, continues to draw buyers for whom a $15 million Boca Raton waterfront estate represents a rational allocation of capital,” Matouk wrote.
Yet, Gerow said Boca Raton uniquely draws buyers with its walkable “city feel,” low density, and comparatively lower price points. “We have the best of all worlds, not just both worlds,” Gerow said.
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